The bill, H.B. No. 157, amends the Transportation Code to enhance the powers of regional transportation authorities, particularly regarding the management and allocation of sales and use tax revenues. A new section, 452.204, establishes a General Mobility Program that allows a unit of election within an authority to enter into agreements with a subregional board to allocate up to 25 percent of its sales and use tax revenue for various mobility projects, including the construction and maintenance of roads, sidewalks, and traffic control improvements. The bill also stipulates that units of election must provide an annual list of intended projects and outlines the distribution of funds, with 50 percent available at the start of the fiscal year and the remainder on a reimbursement basis.

Additionally, the bill modifies existing provisions regarding the pledging of revenue for bond security, allowing authorities to pledge not more than 75 percent of tax revenue instead of all or part. It also introduces a new section, 452.6545, which restricts the authority from issuing financial obligations if it would increase the financial burden on a unit of election under certain conditions. The bill includes a provision that ensures the new rules do not retroactively affect authorities that have already pledged tax revenues for bonds prior to the bill's enactment. The changes are set to take effect 91 days after the legislative session concludes.

Statutes affected:
Introduced: Transportation Code 452.357, Transportation Code 452.358, Transportation Code 452.651 (Transportation Code 452)